Exec pay under scrutiny

Proxy season to focus on elections, pay

By

StaceyDelo

SAN FRANCISCO (MarketWatch) - Shareholders will again focus on executive compensation and also the director nomination and election process during this year's proxy season, said Greg Taxin, chief executive of the institutional investment advisory firm Glass, Lewis & Co.

"Shareholders have really started to feel the pinch and believe that they don't have a real say in who represents them at the board of directors," Taxin said.

As the election process stands currently, it only takes a single vote to be elected to the board of a company.

"Any nominee with a mother wins a board seat," he said.

This year, however, Taxin said he expects to see some shareholder proposals designed to influence the nomination and election process at companies.

"Shareholders I think have now come to conclude that there ought to be a choice, there ought to be a mechanism for holding directors accountable," he said.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.